PC shipments up 59% on year ago quarter
Lenovo has reported consolidated sales of $4.31bn for the fourth fiscal quarter of 2009, an increase of 55.8% compared to $2.77bn for the same period last year. The company’s worldwide PC shipments increased 59% year over year.
The company’s gross profit grew 50.1% compared to the fourth quarter of 2008, with gross margin of 10.4%, a decrease of 0.4 percentage points year over year. Operating profit was $47m, compared to an operating loss of $76m for the fourth quarter of 2008.
For the fourth quarter, the company posted profit attributable to equity holders of $13m, a turnaround from a loss of $264m in the same quarter a year ago.
Geographically, Lenovo China posted consolidated sales of $2bn for the fourth quarter, an increase of 67% year over year, accounting for 45% of the company’s worldwide sales. In emerging markets, consolidated sales totaled $774m while mature markets accounted for $1.6bn.
For the fiscal year ended March 31, 2010, the company posted consolidated sales of $16.6bn, up 11.4% year-over-year. Its gross profit dipped by a small margin to $1.79bn, while operating profit rose to $204m.
Yang Yuanqing, CEO of Lenovo, said: Last quarter, Lenovo was the fastest growing of the top five PC companies for the second consecutive quarter and our profits continued to improve. Moreover, we achieved our highest-ever global market share during the year.
“Looking ahead, we will continue to implement our strategy, while closely monitoring the changes in the economic environment and industry trends. We are committed to drive the development of our core PC business and grab the growth opportunities generated by mobile internet arena.”